As most of you know well by now, the so-called European right wing made substantial, even in cases stunning, gains in European parliament elections. This would seem to take some of the wind out of the sails of those wanting...
By Lambert Strether of Corrente. Bird Song of the Day Sedge Warbler, ‘thy’ Denmark. “Habitat: Swamp.” Virtuousic! * * * Patient readers, I’ve had an enormous scheduling debacle, and so must sacrifice Water Cooler to complete a post on an...
By Lambert Strether of Corrente. The instant case for this post is the Ninth Circuit’s “Health Freedom Defense Fund, Inc. v. Alberto Carvalho” (PDF), Alberto M. Carvalho being the Superintendent of the Los Angeles Unified School District (LAUSD), hereafter “Carvalho,”...
Consumption, personal income ex-transfers, and (for March) manufacturing and trade industry sales. Figure 1: Nonfarm Payroll (NFP) employment from CES (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold green), manufacturing and trade...
All measures decelerate. Figure 1: Instantaneous inflation (T=12, a=4) per Eeckhout (2023) for CPI (bold black, chained CPI (sky blue), PCE deflator (tan), PCE deflator with market based prices (red). Chained CPI seasonally adjusted by author using X-13. Source: BLS,...
Almost three years earlier, a sombre Paul Kruger had warned that Britain would find conquering the Boer states no easy matter. In the sense that they were certainly not gained on the cheap, this was an accurate judgment. By the...
Atlanta and NY Fed lower growth rates for Q2 Figure 1: GDP as reported (bold black), GDPNow (light blue square) , NY Fed (pink triangle), Survey of Professional Forecasters May median (light green line), all in bn.Ch.2017$, SAAR. Source: BEA...
Monthly GDP recovers. Figure 1: Nonfarm Payroll (NFP) employment from CES (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold green), manufacturing and trade sales in Ch.2017$ (black), consumption in Ch.2017$ (light blue), and...
That’s the title of a Timoros/WSJ article three days ago: Typically in the recovery from a downturn, households are more cautious about spending and are likely to save. When rates are low, borrowing supports spending. High rates choke off that...
1. The economics department at Genova has an electric diesel submarine. 2. “In other words, many weird cosmic topologies are still entirely consistent with the observed data.” 3. A scenario for AGI in three years? 4. Arnold Kling’s favorite business...
